Rebels Without a Cause

In 1955 James Dean starred in a movie about a troubled teen from a troubled family who gets provoked into a game of “chicken” with a local bully. Is that what’s happening in Washington?

Congress is deadlocked. The government shutdown and impending debt limit are disrupting peoples’ lives and potentially the global economy. We’ve discussed before how political dysfunction in Washington could derail our modest economic expansion. Laws currently on the books need to be reauthorized or expanded periodically, but by not doing this, Democrats and Republicans are both playing “chicken” with the economy.

In the movie, James Dean and a local bully drive stolen cars towards a cliff. The first one to jump before out is deemed “chicken” and loses face with the local gang. Tragically, the bully’s leather jacket gets caught in the car door and he goes over the edge. Could Congress and the President similarly have something unexpectedly go wrong that would send our economy over a cliff?

At one point Dean turns to his bickering parents and yells, “You’re tearing me apart!” That’s about how I feel about this crisis. Just get it done.

Douglas R. Tengdin, CFA

Chief Investment Officer

By | 2017-07-17T12:34:37+00:00 October 16th, 2013|Global Market Update|0 Comments

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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